EXHIBIT 11
JONES APPAREL GROUP, INC. Computation of Basic and Diluted Earnings per Share (In millions except per share amounts)
For the Year Ended December 31, -------------------------------- 2004 2003 2002 -------- -------- ------- Basic Earnings per Share: - ------------------------- Net income........................... $301.8 $328.6 $318.5 ======== ======== ======= Weighted average number of shares outstanding.......................... 123.6 127.3 128.2 ======== ======== ======= Basic earnings per share............. $2.44 $2.58 $2.48 ======== ======== ======= Diluted Earnings per Share: - --------------------------- Net income........................... $301.8 $328.6 $318.5 Add: interest expense associated with convertible notes, net of tax benefit.............. 0.8 9.5 9.1 -------- -------- ------- Income available to common shareholders....................... $302.6 $338.1 $327.6 ======== ======== ======= Weighted average number of shares outstanding........................ 123.6 127.3 128.2 Effect of dilutive securities: Employee stock options............. 2.2 1.3 2.9 Assumed conversion of convertible notes............................ 0.7 7.9 7.9 -------- -------- ------- 126.5 136.5 139.0 ======== ======== ======= Diluted earnings per share.......... $2.39 $2.48 $2.36 ======== ======== =======